This program will be of interest to entrepreneurs and/or owner/operators of businesses who want to immigrate to the NWT and establish business operations in the NWT. All economic sectors are eligible for this program.

Business projects will be considered a priority if they involve a product that is new to the NWT or if the product would generate significant benefits to the north. The market disruption impact of proposed business will be considered as part of the Business Plan analysis.

A business plan is required. The applicant's business plan may involve a new business start-up or the purchase of an existing business. It could also involve investment as an active management partner in an existing business. The business plan must clearly detail the incremental benefits that will accrue to the NWT.

Eligibility

The applicant must:

Invest:

a. A minimum of $300,000 CDN equity into starting or buying a businesswithin the corporate boundaries of Yellowknife, NWT; or

b. A minimum of $150,000 CDN equity into starting or buying a businessoutside of the corporate boundaries of Yellowknife, NWT;

Have a personal net worth of:

a. At least $500,000 CDN if starting or buying a business within the corporate boundaries of Yellowknife, NWT; or

b. At least $250,000 CDN if starting or buying a business outside the corporate boundaries of Yellowknife, NWT;

Have an additional $75,000 kept in a trust account and released upon completion of a Performance Agreement based on a business proposal;

Demonstrate a reasonable knowledge and understanding of NWT and its economy;

Be able to demonstrate reasonable communication skills; and

Have the necessary experience and education to successfully implement the business plan.